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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Iowa City, IA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Iowa City, IA Housing Market Trends

With 75,233 people, 30,544 houses or apartments, and a median cost of homes of $368,911, Iowa City real estate is some of the most expensive in Iowa, although Iowa City home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Iowa City, accounting for 40.97% of the city's housing units. Other types of housing that are prevalent in Iowa City include large apartment complexes or high rise apartments ( 40.38%), row houses and other attached homes ( 8.53%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.58%).

People in Iowa City primarily live in small (one, two or no bedroom) single-family detached homes. Iowa City has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Iowa City built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Iowa City built between 2000 and later ( 27.93%). A lesser amount of the housing stock also hails from between 1940-1969 ( 19.24%). There's also some housing in Iowa City built before 1939 ( 12.37%).

Iowa City Home Appreciation Rates

Iowa City's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Iowa City during the period has been just 4.91%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Iowa City's appreciation rate, at 8.79%, has been at or slightly above the national average. In the latest quarter, Iowa City's appreciation rate has been 5.13%, which annualizes to a rate of 22.16%.

Importantly, this makes Iowa City one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Iowa, our data show that Iowa City's latest annual appreciation rate is higher than 60% of the other cities and towns in Iowa.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Iowa City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Iowa City - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Iowa City real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$368,911

Iowa City, IA Home Prices
> $1,296,000
$972,001 - $1,296,000
$648,001 - $972,000
$518,001 - $648,000
$389,001 - $518,000
$259,001 - $389,000
$129,001 - $259,000
$65,001 - $129,000
$0 - $65,000
0.7%
0.7%
5.1%
5.1%
10.6%
10.6%
10.7%
10.7%
15.7%
15.7%
30.0%
30.0%
20.5%
20.5%
1.3%
1.3%
5.3%
5.3%
0% 100.0%
% of Homes
Very High

for Iowa

High

for nation

Number of Homes And Apartments:

30,544

Iowa City Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,416 / per month

Homeownership Rate

Owners
Renters
42.5%
42.5%
57.5%
57.5%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
8.7%
8.7%
91.3%
91.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
27.9%
27.9%
40.5%
40.5%
19.2%
19.2%
12.4%
12.4%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
41.0%
41.0%
8.5%
8.5%
7.6%
7.6%
40.4%
40.4%
2.5%
2.5%
0.1%
0.1%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
3.7%
3.7%
15.6%
15.6%
30.5%
30.5%
28.7%
28.7%
15.8%
15.8%
5.7%
5.7%
0% 100.0%
% of Homes